Re: Consultants:Dim or Delete the Non-Compete?

[Tkritr -at- aol -dot- com]

Tom ----

Are you talking about Errors and Omissions (E&O) insurance? If so, I got that 
when I started as a 1099 employee (independent contracting). Although you are 
covered for $2 million (or whatever amount --- that's just the figure Tom 
mentioned), it doesn't cost that much to you as the policy owner.  

I was advised to contact the company that I used for my car insurance to get 
E&O insurance.  So I did.  :)   Every company will charge a different amount, 
but I got quite a bit of E&O insurance for under $500.00.  

In addition to the information Andrew provided, remember that you are going 
to have to pay self-employment tax. Add a little extra to the hourly fee he 
suggested to make sure you're not just breaking even.

It's quite a bit of work, but I've learned a lot about being a better 
business person.  After being an independent contractor, I can appreciate why 
consulting firms get the high fees.

HTH,
Kirsten Petersen
technical writing consultant 

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